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markettrendsus · 7 months

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The Expanding Tire Material Market: Growth Drivers, Opportunities, and Leading Players

The global tire material market is undergoing steady expansion, projected to reach $106.5 billion by 2033 after growing at a 3.9% CAGR between 2024 and 2033. Several factors are driving growth in this market, creating opportunities for companies involved in supplying raw materials for tire production. This article will provide an in-depth look at the tire material market, including market size and forecasts, growth drivers, opportunities, leading players, and frequently asked questions.

Introduction to the Tire Material Market

Tire materials refer to the raw materials used in manufacturing tires for vehicles. This includes reinforcing fillers, elastomers, chemicals, plasticizers, metal reinforcements, and textile reinforcements. These materials provide tires with durability, flexibility, strength, grip, traction, and wear resistance.

The tire material market caters to original equipment manufacturers (OEMs) producing tires for new vehicles and the automotive aftermarket providing replacement tires. With vehicle production and sales expanding globally and the need for replacement tires as vehicles age, demand for tire raw materials continues rising.

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Tire Material Market Outlook and Projections

As per the recent analysis, the global tire material market was valued at $75.1 billion in 2024 and is expected to reach $106.5 billion by 2033. This represents an impressive CAGR of 3.9% during this period.

Several factors are fueling the consistent growth of the tire material market, which will be explored in the next section. In addition, opportunities exist for market players to leverage the latest tire technologies and sustainable materials.

Key Growth Drivers in the Tire Material Market

The major factors propelling the growth of the global tire material market include:

Increasing vehicle production and sales: With improving economic conditions in developing nations, vehicle sales are rising rapidly, driving automotive and tire production.

Growth in the transportation and logistics sector: Expansion of transportation fleets across the world to meet surging consumer demand is spurring commercial vehicle tire production.

Development of all-season and specialty tires: All-season, run-flat, and other premium tires require advanced materials, augmenting market growth.

Focus on fuel efficiency and eco-friendly tires: Use of silica and other materials for producing energy-efficient and green tires is rising.

Advancements in tire technologies and materials: Companies are developing novel materials and tire technologies like airless tires, fueling market growth.

These factors will propel the tire material market to reach over $100 billion by 2033.

Opportunities in the Tire Material Market

Some of the promising opportunities in the tire material market include:

Sustainable materials: Using recycled, renewable, and biodegradable materials represents a significant opportunity. Companies can develop partnerships with suppliers and leverage green chemistries.

Smart tire technologies: Incorporating sensors and intelligence in tires through advanced materials provides an opportunity for product differentiation.

Customization: Offering bespoke compounding solutions and custom tire materials allows serving OEMs better.

Capacity expansion: Setting up additional manufacturing capacity and entering high-growth regions can be opportunistic. Partnerships can help mitigate risks.

Research and innovation: Continuous R&D into novel materials like graphene, soybean oil, and liquefied wood offers differentiation.

Capitalizing on these opportunities can help secure a strong foothold in this high-potential market.

Leading Players in the Tire Material Market

The tire material market is fragmented with many small and large players. However, some prominent public companies lead the market, including:

Royal Dutch Shell: A key supplier of butadiene, carbon black, and other synthetics. Also has latex production capacity.

SIBUR INTERNATIONAL: Among the top suppliers of synthetic rubbers and a pioneer in solution-polymerized styrene-butadiene rubber (SSBR) for tire production.

Orion Engineered Carbons: A leading supplier of rubber and specialty carbon blacks for tire and mechanical rubber goods industries.

PetroChina Company Limited: Supplies synthetic rubber, butadiene, and other petrochemical feedstocks for tires.

Phillips 66: Manufactures synthetic rubber, resins, carbon black, and reinforcing fillers used in tire manufacturing.

These large, established companies dominate, but small and mid-sized regional players also have significant market share cumulatively.

Frequently Asked Questions About the Tire Material Market

Here are some common questions regarding the tire material market:

Q: What are the most widely used materials for tire manufacturing?

A: Rubber, carbon black, metal and textile reinforcements, anti-degradants, accelerators, and vulcanizing chemicals are the most extensively used materials. Rubber accounts for over 40% of a tire's materials by weight.

Q: Which region dominates the tire material market?

A: Asia Pacific holds the largest share of the global tire material market, owing to massive tire production capacity in China, India, Thailand, Indonesia, and Malaysia. China alone produces over 30% of the world's tires.

Q: What materials are gaining prominence in tire manufacturing?

A: Sustainable materials like soybean oil, silica, liquefied wood, and recycled rubber are being increasingly adopted. Additionally, technological materials like sensor fabrics, shape memory alloys, and graphene are also gaining traction.

Q: How have raw material prices impacted the tire market?

A: Prices of key feedstocks like rubber, steel, oil, carbon black, and chemicals have witnessed volatility in recent years. This has put pressure on tire manufacturers' margins. Some companies have managed this volatility through long-term contracts and vertical integration.

Q: What is the supply chain structure of the tire materials industry?

A: The upstream is dominated by chemical, petrochemical, rubber, and reinforcement manufacturers. Midstream players like compounders supply formulated rubber compounds. The downstream comprises tire manufacturers who are the direct customers for tire materials.

Q: Which are the most common performance deficiencies seen in tire materials?

A: Common deficiencies include inadequate traction, rolling resistance, wear resistance, strength, stiffness, flex fatigue, and cut/chip resistance. These depend on the compound formulation and production quality control.

Conclusion

The tire material market exhibits a healthy growth rate, expected to reach over $100 billion by 2033. Rising automotive production and sales paired with the booming transportation sector is driving raw material demand. Leading global corporations and regional players supply various tire ingredients to the industry. Opportunities exist in sustainable materials, smart tire technologies, customization, and research. The tire industry and associated material markets promise robust, sustained expansion in line with mobility and logistics needs. Companies recognizing promising areas and innovating tire materials will reap rich dividends.

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vijukumar · 8 months

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Tire Market: Trends, Challenges, and Future Outlook

In the bustling world of automotive industries, the tire market stands as a crucial cornerstone, shaping not just transportation but also influencing global economies. As vehicles traverse varied terrains and climates, tires play a pivotal role in ensuring safety, efficiency, and performance. With the continuous advancements in technology, shifting consumer preferences, and environmental concerns, the tire market is witnessing dynamic changes, presenting both challenges and opportunities for stakeholders.

Understanding the Current Landscape

Tire Market Overview: The tire market encompasses a vast array of segments, including passenger vehicles, commercial vehicles, off-highway vehicles, and specialty vehicles. The global Automotive Tire market size is estimated to be worth US$ 134990 million in 2022 and is forecast to a readjusted size of US$ 167870 million by 2028 with a CAGR of 3.7% during the review period. According to recent research reports, the global tire market is experiencing steady growth, driven by factors such as increasing vehicle production, rising disposable incomes, and expanding automotive aftermarket services.

Market Share and Revenue: Leading tire manufacturers vie for market share, constantly innovating to gain a competitive edge. Companies such as Michelin, Bridgestone, Goodyear, and Continental consistently feature among the top players in terms of revenue and market presence. Their strategies encompass product diversification, technological advancements, and strategic partnerships to capture a larger market share.

Industry Analysis: The tire industry undergoes rigorous analysis to identify emerging trends, consumer preferences, and competitive landscapes. Market research reports delve deep into various aspects such as tire types (radial, bias), materials (rubber, synthetic), and end-users (OEMs, aftermarket).

Trends Shaping the Future

Shift towards Sustainable Solutions: With increasing environmental consciousness, there's a notable shift towards eco-friendly tire solutions. Manufacturers are exploring alternatives to traditional rubber, incorporating recycled materials, and developing tires with lower rolling resistance to enhance fuel efficiency.

Rise of High-Performance Tires: Enthusiasts and consumers alike are driving the demand for high-performance tires, seeking superior handling, grip, and durability. This segment encompasses not only sports cars but also performance-oriented SUVs and sedans, presenting lucrative opportunities for tire manufacturers.

Technological Innovations: The tire industry is witnessing a surge in technological innovations, including the development of airless tires, intelligent tires embedded with sensors for real-time monitoring, and advancements in tire manufacturing processes such as 3D printing and nanotechnology.

Digital Transformation: Digitalization is revolutionizing the tire industry, from online tire sales platforms to tire pressure monitoring systems (TPMS) integrated into vehicles. Data analytics and artificial intelligence are being leveraged to optimize tire performance, predict maintenance needs, and enhance overall driving safety.

Challenges to Navigate

Supply Chain Disruptions: The tire industry, like many others, faces challenges stemming from supply chain disruptions, raw material shortages, and geopolitical uncertainties. Striking a balance between global sourcing and local production becomes essential to mitigate risks and ensure continuity.

Regulatory Compliance: Stringent regulations pertaining to tire manufacturing, labeling, and disposal pose compliance challenges for manufacturers. Adhering to standards related to safety, emissions, and sustainability requires continuous adaptation and investment in R&D.

Market Fragmentation: The tire market is inherently fragmented, with diverse consumer preferences, regional variations, and vehicle-specific requirements. Tailoring product offerings to meet varied demands while maintaining economies of scale presents a balancing act for manufacturers.

Future Outlook

Despite challenges, the future of the tire market appears promising, driven by innovation, sustainability initiatives, and technological advancements. As electric vehicles gain prominence, the demand for specialized tires optimized for EV performance is expected to rise. Moreover, the advent of autonomous vehicles opens new avenues for tire manufacturers, necessitating tires capable of meeting the unique demands of self-driving technology.

Conclusion

The tire market remains dynamic and resilient, adapting to changing landscapes while catering to evolving consumer needs. By embracing innovation, sustainability, and digital transformation, stakeholders can navigate the complexities of the tire industry and emerge stronger in the competitive global market. As we journey towards a future of mobility, tires will continue to be the foundation upon which safe and efficient transportation relies.

#Tire Market #Tire Market Share #Tire Market Revenue #Tire Market Growth #Global Tire Industry #Tire Market Future Outlook #Tire Industry Analysis #Tire Industry Research Reports

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stratviewresearch · 2 years

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Airless Tires Market is expected to expand recording stable CAGR over the forecast year 2028

The report on the Airless Tires Market published by Stratview Research covers in depth details associated with the Airless Tires Market.

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The Airless Tires Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Airless Tires Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.

Key Players

The following are the key players in the Airless Tires Market:

• Amerityre Corporation

• Bridgestone Corporation

• Cooper Tire & Rubber Company

• Harris Tires

• Michelin

• Resilient technologies

• Sumitomo Rubber Industries, Ltd.

• The Goodyear Tire & Rubber Company

• The Hankook Tire & Technology group

• Toyo Tires.

Growth drivers and Market Value:

This report, from Stratview Research, studies the Airless Tires Market value and growth drivers over the trend period of 2022-27. According to the report -

Airless Tires Market is likely to witness an impressive CAGR of 6.0% during the forecast period. Increasing demand for all terrain and military vehicles, ongoing enhancements in technologies to reduce vibration and noise generated by tires, presence of technology providers in the market, and growing automotive industry are some of the major factors fueling the market growth during the forecast period.

Segment Analysis:

Based on by Vehicle Type:

Based on the vehicle type, the market is segmented as military vehicles, LCV, HCV, terrain vehicles, utility vehicles, and motorcycles. HCV is projected to register strong growth rate in the market owing to ongoing initiatives by the industry players to introduce non-pneumatic tires for the vehicles as these tires provide excellent durability and lesser wear & tear as compared to conventional tires. Growing adoption of airless tires in HCV and increasing construction and infrastructure globally require tires which are capable of carrying more weight and can be worked for rugged activities, fueling the market growth over the forecast period.

Based on Regional:

In terms of regions, North America is projected to be the leading region in the market owing to growing implementation of airless tires in military applications and utility terrain vehicles, and constant focus on offering products for military and defense purpose by the industry players during the forecast period. On the other hand, Asia-Pacific is estimated to witness significant growth which can be attributed to the presence of manufacturers, easy availability of raw materials, and high vehicle ownership in the region during the forecast period.

Critical Questions Answered in the Report

What are the key trends in the Airless Tires Market?

How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?

What is the impact of COVID-19 on Airless Tires Market?

What are the key strategies adopted by the major vendors to lead in the Airless Tires Market?

What is the market share of the top vendors?

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About Us

Stratview Research is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful and actionable market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more. Stratview Research helps its user’s tract the ever-evolving market scenarios through its top-notch market reports.

Get in touch with us at – [email protected] connect with our experts at +1-313-307-4176

#AirlessTiresMarket

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wither3344 · 3 years

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Advanced Tires Market

#Advanced Tires Market

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industry365 · 3 years

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Automotive Tire Market Is Expected To Reach New Growth Revenues During 2021-2028

The global Automotive Tire Market is anticipated to reach around USD 453.7 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the passenger cars dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global Automotive Tire market.

The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the market growth. The adoption of automotive tires has increased significantly owing to increasing need to increase the average life of vehicles, and growing need to improve road safety by use of technologically advanced tires. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and increasing adoption of green tires would provide growth opportunities for automotive tire market in the coming years.

Market players operating in the global automotive tire market are investing significantly in research and development and technological innovation to develop advanced products to meet the growing consumer demands. The stringent government regulations regarding the use of green tires also encourage new product development. In 2012, Hankook Tire developed an airless tire. The non-pneumatic tire results in significant energy savings through reduction of the production process by half. These tires can be reused or recycled and find applications in eco-friendly car models including hydrogen, electric and hybrid cars.

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In 2017, Asia-Pacific accounted for the highest share in the global automotive tire market. Established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The introduction of stringent government regulations regarding vehicular safety and use of green technology accelerates the adoption of automotive tires in the region. The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region. Expansion of global players into these countries to tap market potential boosts the market growth.

The leading companies profiled in the Automotive Tire Market report include MRF Tyres, JK Tyre & Industries Ltd., Continental AG, Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Michelin Group, Toyo Tire & Rubber Co. Ltd., Goodyear Tire and Rubber Company, Pirelli & C. S.P.A., and CEAT Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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tmr123123 · 3 years

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Airless Tire Market Revenue, Regional & Country Share, Key Factors, Trends & Analysis, To 2030

Market Overview:

Airless tires are also known as non-pneumatic tire. Airless tires are not supported by air pressure. Non-pneumatic tires are currently produced by recyclable plastic or rubber. Airless tires composed of closed-cell polyurethane foam are also made for bicycles and wheelchairs. These tires are used in some small vehicles and heavy equipment such as such as riding lawn mowers, backhoes, motorized golf carts. Also airless tires are required on sites such as building demolition, where risk of tire punctures is high. Global Airless tire Market is expected to grow in the forecasted period, in 2017 market size of the Airless tire was XX million and in 2025 is expected to reach at XX million with growing CAGR of XX%.

Market Dynamics:

Airless tires are eco-friendly in nature. Moreover, provision of benefits such as durability, puncture proof, and rugged applications will further strengthen the product penetration. Rising focus of governments on agricultural sector across the globe has resulted in increased demand for agricultural machinery, leading to increased production of airless tires. Manufacturers are focusing on overcoming the challenges associated to these tires such as vibration and noise by regular technological advancements.

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However, excessive manufacturing cost coupled with low awareness about their benefits may hamper the non-pneumatic tires market growth over the forecast timeframe. Limited performance in case of friction, suspension, and high speed will further impact the airless tires market negatively

Market Players:

Airless Tire market hold some of the prominent players serving industries like Bridgestone, Goodyear Tire & Rubber Co., Hankook, Michelin, Resilient technologies, Sumitomo Rubber Industries and Toyo Tires.

Market Segmentation:

The report is based on market outlook and product scope. The market is segmented on the basis of Product, vehicle, tire size, material, sales channel and geography. The market for Airless Tire is driven by the growing demand for various different forms of applications globally. The rising demand for specialized tires such as airless tire from construction, mining, and agriculture machinery will drive the growth prospects for the global automotive airless radial tire market until the end of 2025. On the basis of region the market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa (MEA).

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Market segmented by product:

– Radial – Bias

Market segmented by Vehicle:

– Military vehicle – LVC – HCV – Terrain Vehicle – Utility Vehicle – Motorcycles

Market segmented by material:

– Rubber – Plastic

Market segmented on the basis of region:

– North America • US • Canada • Mexico – Europe • UK • Germany • France • Rest of Europe – Asia-Pacific • China • Japan • India • Australia • Rest of Asia-Pacific – Latin America • Brazil • Rest of Latin America – Middle East and Africa (MEA) • South Africa • Saudi Arabia • Rest of MEA

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technogeekstmr · 3 years

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Off-the Road [OTR] Tire Market Emerging Trend, Advancement, Growth and Business Opportunities

Tire Prices Shrink as Production Volume Compresses amid Coronavirus Pandemic

The general market weakness due to the coronavirus crisis is being experienced globally. As manufacturers in the off-the-road (OTR) tire market currently have high inventories, they are expecting business operations to return to normal to mitigate supply and demand issues. Analysts at the Transparency Market Research (TMR) opine that the demand is estimated to ramp up, as the economy is stabilizing. As such, different market conditions pose as hurdles for manufacturers, as they scramble to strengthen their wholesale network and contingency plans.

The reduced vehicle production has compelled manufacturers in the off-the-road (OTR) tire market to negotiate their tire prices. Innovative payment and credit offers on vehicles are anticipated to pump revenue back in the automotive business. Agriculture sector is creating stable revenue streams for tire dealers.

Request a sample to get extensive insights into the Off-the Road [OTR] Tire Market.

Bias Tires Pose Stiff Competition to Sales of Radial tires

Radial tires have more advantages as compared to its disadvantages. However, radial tires are more difficult and complicated to repair as compared to other types of tires. Moreover, bias tires pose a stiff competition to radial tires, and the former is predicted to dominate the revenue as compared to all tire types in the off-the-road (OTR) tire market.

On the other hand, repurposing radial tires is boosting the credibility of manufacturers in the off-the-road (OTR) tire market such as Bridgestone Americas’ Aiken Plant, which converts used tires into giant watering troughs for livestock. Manufacturers are increasing the availability of low-pressure tires meant for high-powered row crop applications.

Innovations in Harvester, Tractor Tires Create Revenue Opportunities for Companies

Since agriculture is predicted to dictate the highest revenue among all industrial types in the off-the-road (OTR) tire market, manufacturers are expanding their portfolio in this sector. Michelin introduced harvester and floater tires among others, which help to maximize harvests.

Stakeholders in the off-the-road (OTR) tire market are boosting their output capacities in high performance radial tires that offer long service life and exceptional year round traction. They are increasing R&D muscle to incorporate strong and flexible sidewalls and self-cleaning hinges for optimized pulling power. In addition, manufacturers are innovating in harvester tires that deliver less pressure for less soil compaction.

Airless Radial Tires Help Eliminate Downtime, Complex Mounting in Construction

The off-the-road (OTR) tire market is projected to surpass the revenue of US$ 10.6 Bn by the end of 2030. Manufacturers are innovating in all terrain and all position radial tires to broaden their revenue streams. After agriculture, the construction industry holds promising potentials for the growth of the off-the-road (OTR) tire market. The breakthrough airless technology in radial tires for construction is eliminating the need for complex mounting equipment.

Airless radial tires are transforming the construction sector, since they omit the need for maintaining air pressure and reduce downtime during operations. These tires mimic the properties of pneumatic tires by eliminating issues of a flat tire. Companies are increasing their production for all terrain airless radial tires that provide hard surface traction.

Special Compounded Designs in Tires for Mining Benefit for Extreme Underground Services

Among tough competition in the off-the-road (OTR) tire market, the U.S. tire and rubber company Firestone is expanding its portfolio in agriculture and off road tires. Tires for the mining industry involve bias tires specifically designed for underground mining operations to deploy exceptional cut resistance and impact protection. Manufacturers are developing bias tires that are being used in extreme service shuttle trucks and LHD (load haul dump) applications.

Super heavy-duty plain tread designs are being incorporated in off road tires for mining applications that are capable of delivering resilient underground service. Special compounded designs in tires improve tread life of tires. Noise treated tractor and commercial vehicle tires are storming the off-the-road (OTR) tire market. Large footprints in tires help to reduce soil compaction.

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Off-the-Road (OTR) Tire Market: Overview

The global off-the-road (OTR) tire market is anticipated to expand at a CAGR of ~3% during the forecast period, owing to increase in construction and infrastructure development across the globe. Rising demand for industrial products is boosting the development of new industries. Moreover, expansion of existing industries is propelling the market for construction equipment.

Expansion of industries is propelling the demand for minerals and metals, which are extracted from their ores. This is boosting the mining industry, which requires mining equipment such as shovels, loaders, haul trucks, and draglines, which, in turn, is likely to increase the demand for off-the-road tires across the globe.

Drivers of Off-the Road (OTR) Tire Market

Rise in medium-sized farmers across globe is fueling the demand for agricultural equipment, which is fueling the demand for agriculture tires across the globe. Increase in industrialization across the globe has boosted transportation activities. Intercity transport activities, including B2B and B2C trade are growing, which drives the demand for compact and fast transport vehicles to effectively navigate around cities. This is propelling the global off-the-road (OTR) tire market.

Growing population and rising consumer income across the globe are likely to shift agriculture sector toward mechanization, which is likely to boost the off-the-road (OTR) tire market across the globe. Rising technological development in tires, including connected tires and TreadStat rim management system, which provides information before the breakdown of the vehicle. This is anticipated to propel the off-the-road (OTR) tire market across the globe.

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udaycmi · 3 years

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Automotive Tire Market Future Innovation Strategies, Growth & Profit Analysis, Forecast

The global Automotive Tire Market is anticipated to reach around USD 453.7 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the passenger cars dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global Automotive Tire market.

The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the market growth. The adoption of automotive tires has increased significantly owing to increasing need to increase the average life of vehicles, and growing need to improve road safety by use of technologically advanced tires. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and increasing adoption of green tires would provide growth opportunities for automotive tire market in the coming years.

Get Sample copy of this report: https://www.polarismarketresearch.com/industry-analysis/automotive-tire-market/request-for-sample

Market players operating in the global automotive tire market are investing significantly in research and development and technological innovation to develop advanced products to meet the growing consumer demands. The stringent government regulations regarding the use of green tires also encourage new product development. In 2012, Hankook Tire developed an airless tire. The non-pneumatic tire results in significant energy savings through reduction of the production process by half. These tires can be reused or recycled and find applications in eco-friendly car models including hydrogen, electric and hybrid cars.

In 2017, Asia-Pacific accounted for the highest share in the global automotive tire market. Established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The introduction of stringent government regulations regarding vehicular safety and use of green technology accelerates the adoption of automotive tires in the region. The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region. Expansion of global players into these countries to tap market potential boosts the market growth.

The leading companies profiled in the Automotive Tire Market report include MRF Tyres, JK Tyre & Industries Ltd., Continental AG, Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Michelin Group, Toyo Tire & Rubber Co. Ltd., Goodyear Tire and Rubber Company, Pirelli & C. S.P.A., and CEAT Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world

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marketresearchanalyst · 3 years

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Airless Tires Market Research Report - Global Industry Forecast To 2023

Overview

Market Research Future (MRFR) announced the publication of its Cooked Research Report — Global Airless Tires Market 2020–2026

In terms of value, the airless tires market is projected to reach USD 63.6 million by 2026, registering a 9% CAGR during the forecast period.

The global airless tires market is driven by factors such as increasing demand for fuel-efficient tires, government regulations regarding tire labeling, and the need to eliminate the requirement of spare tires. However, the increasing raw material prices and less reliable options are expected to restrain the market growth. The growing demand for airless tires in fleets is expected to create growth opportunities for the market players.

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Competitive Analysis

The global airless tires market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services.

The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Continental AG, Bridgestone, Michelin, Hankook Tire, and The Goodyear Tire & Rubber Company are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology and consider product development their key strategy in the global airless tires market. Although the international players dominate the market, regional and local players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.

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Segmental Analysis

Increasing demand for fuel-efficient tires, government regulations regarding tire labeling, and adoption for eliminating the requirement of spare tires will spur market growth. The global airless tires market has been segmented based on type, material, tire size, vehicle type, and sales channel.

Based on type, the global market has been segmented into radial tires and bias tires. In 2019, the radial tires segment accounted for the larger market share of 85.77%, with a total market value of USD 34.7 million. It is projected to register a 17.76% CAGR during the projected timeframe. Based on material, the global market has been segmented into rubber and plastic. In 2019, the plastic segment accounted for the larger market share of 73.35%, with a market value of USD 29.7 million. It is projected to register an 18.55% CAGR over the forecast period.

Based on the tire size, the global market has been segmented into <20 inches, 21–25 inches, 26–30 inches, 31–35 inches, and >35 inches. In 2019, the 26–30 inches segment accounted for the largest market share of 38.45%, with a total market value of USD 15.6 million. It is projected to register a 19.30% CAGR during the projected timeframe.

Based on vehicle type, the global market has been segmented into two-wheelers, passenger cars, light/heavy industrial/commercial vehicles, and trucks & buses. In 2019, the light/heavy industrial/commercial vehicles segment accounted for a considerable market share of 44.57%, with a market value of USD 18.0 million. It is projected to register a 15.50% CAGR over the forecast period.

Based on sales channel, the global market has been segmented into OEM and aftermarket. In 2019, the OEM segment accounted for the larger market share of 91.18%, with a market value of USD 36.9 million. It is projected to register a 17.47% CAGR during the projected timeframe.

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Regional Analysis

Based on region, the global airless tires market report has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Asia-Pacific has one of the biggestautomotive aftermarkets, owing to the automotive industry's rapid growth in countries such as China, India, and Japan. The increased demand for airless tires in the region can be credited to factors such as the growing construction activities, industrial development, and the rise in demand for fuel-efficient technologies. The region has abundant raw material suppliers, low labor costs, and favorable government guidelines in most countries in the region,such asJapan,China, and South Korea. These countries also have a strong focus on agriculture, and hence the demand for airless tires in the agriculture sector is also expected to be high.

The demand for airless tires in construction and industrial equipment vehicles is expected to drive the growth of the airless tires market in North America. Furthermore, the rising demand for high-performance industrial-grade tires, especially in the replacement market, is expected to offer lucrative opportunities to the airless tires market during the forecast period. Furthermore, in 2019, Canada renewed a signed Comprehensive Economic and Trade Agreement (CETA) with the EU and a free trade agreement with South Korea for vehicle exports, which is expected to offer promising growth opportunities for the airless tires market in Canada during the forecast period.

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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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nasiknews · 3 years

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Automotive Airless Tire Market Share with Top Countries Data, Size, Global Analysis and Forecasts by Component by Type and Application

The MarketWatch News Department was not involved in the creation of this content. Jul 02, 2021 (Market Insight Reports) — Overview for “Automotive Airless Tire Market” Helps in providing scope and definitions, Key Findings, Growth Drivers, and Various Dynamics. Automotive Airless Tire Market Data and Acquisition Research Study with Trends and Opportunities 2019-2024The study of Automotive…

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atomicdinosaurdonut · 4 years

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Advanced Tires Market to Garner $298.8 Mn by the End of 2023

Overview:

Advanced tires have become the need of the hour as the automotive sector is witnessing a constant surge in innovation. The industry demands a sync between the advanced features of a car and its tires for better performance. This is providing substantial ground to the global advanced tires market to gain 10.8% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) claims that the market can achieve a valuation of USD 298 million by the end of 2023.

Factors like high integration of advanced technology in the automotive sector, hike in the manufacturing of luxurious automobiles, changing automobile industry in the APAC and North America are influencing the global market considerably. However, the industry is benefitting much because of the high initial investment associated with it. Also, the mass production is a bit difficult which can hinder the expected market growth.

Segmental Analysis:

MRFR segmented the global advanced tires market by on-highway vehicle type, off-highway vehicle type, material type, and type.

Based on the on-highway vehicle type, the advanced tires market includes LDV and HDV. The LDV segment has the maximum of the market share and is expected to dominate the market during the forecast period. Meanwhile, the HDV segment is touted to record the higher CAGR during the forecast period.

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Based on the off-highway vehicle type, the advanced tires market comprises agriculture tractors, construction & mining equipment, and industrial equipment. The agriculture tractors segment dominates the market, whereas, the mining equipment segment is deemed to enjoy the maximum growth during the forecast period.

Based on the material type, the advanced tires market consists natural rubber, elastomers, synthetic rubber, steel, and other materials. The natural rubber segment has the maximum market share and it can achieve considerable heights by attaining considerable CAGR during the forecast period. Meanwhile, the synthetic rubber segment has the potential to reach out to a robust customer base at a faster speed.

Based on the type, the advanced tires market can be segmented into pneumatic tires, run-flat tires, and airless tires. The pneumatic segment is anticipated to grow faster as its load-bearing capacity makes it the choicest preference for many industries. The run-flat tires segment is touted to grow with the faster CAGR during the forecast period.

Regional Analysis:

MRFR segments the advanced tires market on a region-scale into the Americas, Europe, Asia Pacific, and the Middle East & Africa. North America’s global market share is outdoing its peers and the market would remain the same during the forecast period. High per capita income and increasing sale of automotive are driving the market ahead. At the same time, the revamped automotive sector is also providing a much wider scope for the regional market expansion.

Europe’s market is witnessing a surge as the robust automotive infrastructure is expected to drive the regional market’s growth ahead. The APAC, on the other hand, is witnessing the boons of developing economies and rising per capita income which is spurring the regional market growth.

Competitive Landscape:

There are several companies who are engaging in a fierce competition to stay ahead of the rest. This competition witnesses several strategic moves getting deployed and, in their attempt, they also take the entire advanced tires market forward. MRFR, while discussing the market, integrated profiles of companies like Michelin (France), Sumitomo (Japan), Yokohama (Japan), Hankook Tire (South Korea), Nokian (Finland), Continental (Germany), Goodyear (US), Pirelli (Italy), CEAT (India), Bridgestone (Japan), and Toyo Tire (Japan).

In 2019, Goodyear is planning to launch their concept tire for flying cars that would work both on the road and as propeller in the air. The concept has been named AERO which would use a multimodal tilt-rotor concept and magnetic propulsion with AI to support seamless performance.

In February 2019, Firestone announced the extension of their supplier partnership with NTT INDYCAR series till to 2025. This extension would allow more integration of the advanced tires and allow research and developments to prosper.

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Key Questions Addressed by the Report

What was the historic market size?

Which segmentation (Product/ Capacity) is driving market?

What will be the growth rate?

How are the key players in this market?

What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact Company Name: Market Research Future Contact Person: Abhishek Sawant Email: Send Email Phone: +1 646 845 9312 Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar City: Pune State: Maharashtra Country: India Website: https://www.marketresearchfuture.com

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rickysheikh92 · 4 years

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South Africa Automotive Tires Market Global Industry Analysis, size, share and Forecast 2020-2027

The GMI Research forecasts that the South Africa market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing sales of commercial and passenger vehicles due to the rising purchasing power of people and the increasing commercial sector.

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South Africa Automotive Tire Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The growing sales of commercial and passenger vehicles due to the rising purchasing power of people and the increasing commercial sector nationwide are the major factors propelling the growth of the South Africa automotive tire market during the forecast period. Furthermore, the increasing number of export & production of automotive tires and the strong demand for replacement tires will further surge the growth of the South Africa automotive tire market in the upcoming years. Sumitomo Rubber South Africa (Pty) Ltd., in 2018, started the production of tires for buses and trucks for the market although the country. The company financed USD 68 million for installing advanced and new facilities for production in the South Africa factory.

The manufacturers' fundamental shift towards the introduction of various advanced technologies to produce automotive tires with improved performance, including the puncture-proof airless concept tire offered by Michelin, which is likely to be virtually maintenance-free, will further stimulate the market growth during the forecast period. On the other hand, the increasing import of second-hand tires in the nation, bringing an issue for the international and local players to boost their presence in the country, is a key factor hampering the growth of the South Africa automotive tire market share in terms of revenue.

Type Segment Drivers

Based on the type, the radial segment is expected to increase at a faster CAGR in the upcoming years due to the growing usage of radial tires nationwide and the rising production of such tires in the market. For example, Sumitomo Rubber introduced a state-of-the-art bus and truck radial factory in Ladysmith, Kwazulu-Natal, in 2020. The lower cost of such tires and the capability to provide less resistance & vibration, and flexible sidewalls will further bolster the demand for such tires in the market.

South Africa Automotive Tire Market Segmentation:

Segmentation by Type:

· Bias

· Radial

Segmentation by Season:

· Summer

· Winter

· All Seasons

Segmentation by Vehicle Type:

· Passenger Car

· LCV

· Buses

· Trucks

Segmentation by Rim Size:

· Less than 15 Inch

· 15-20 Inch

· More than 20 Inch

Segmentation by Distribution Channel:

· OEM

· Aftermarket

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

Media Contact Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: [email protected] Phone: Europe – +353 1 442 8820; US – +1 860 881 2270 Address: Dublin, Ireland Website: www.gmiresearch.com

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karishmamulani · 4 years

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Automotive Tire Market Size, Development, Key Opportunity, Application & Forecast

The global Automotive Tire Market i s anticipated to reach around USD 453.7 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the passenger cars dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global Automotive Tire market.

The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the market growth. The adoption of automotive tires has increased significantly owing to increasing need to increase the average life of vehicles, and growing need to improve road safety by use of technologically advanced tires. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and increasing adoption of green tires would provide growth opportunities for automotive tire market in the coming years.

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Market players operating in the global automotive tire market are investing significantly in research and development and technological innovation to develop advanced products to meet the growing consumer demands. The stringent government regulations regarding the use of green tires also encourage new product development. In 2012, Hankook Tire developed an airless tire. The non-pneumatic tire results in significant energy savings through reduction of the production process by half. These tires can be reused or recycled and find applications in eco-friendly car models including hydrogen, electric and hybrid cars.

In 2017, Asia-Pacific accounted for the highest share in the global automotive tire market. Established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The introduction of stringent government regulations regarding vehicular safety and use of green technology accelerates the adoption of automotive tires in the region. The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region. Expansion of global players into these countries to tap market potential boosts the market growth.

Speak to Analyst to know more @ https://www.polarismarketresearch.com/industry-analysis/automotive-tire-market/speak-to-analyst

The leading companies profiled in the Automotive Tire Market report include MRF Tyres, JK Tyre & Industries Ltd., Continental AG, Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Michelin Group, Toyo Tire & Rubber Co. Ltd., Goodyear Tire and Rubber Company, Pirelli & C. S.P.A., and CEAT Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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technogeekstmr · 4 years

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Off-the Road Tire Market 2021 by Global Industry Trends, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2025